Proven reserves of oil

billion barrels, 1980–2017

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    Oil reserves are the amount of technically and economically recoverable oil. Proved reserves are estimated volumes of hydrocarbon resources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. Reserves estimates change from year to year as new discoveries are made, as existing fields are thoroughly appraised, as existing reserves are produced, as prices and costs change, and as technologies evolve.

    Source: EIA